We have laredy OD Ac in A Bank now from last two month we have opened Escrow AC in A bank also. Now A bank send a letter to closed Escrow AC which already in A bank.
Bank refer RBI guideline. My query any such guidling from RBI

L D Dharmadhikari

Whether the chit commission received from business of chits can be offered at 8% profit?

Please give your best suggestions for ITC Reversal or Increase. We showed debit note in GSTR-1 last year and did not deduct ITC from purchase,But we have just made the amount zero by amending the debit note in the September return.Last year, which we had paid wrong GST through debitnote, which we had to adjust from the purchase, now how do we adjust for September 2021 GSTR3B now. 'Integrated ITC

Dear Sir / Madam,

Mr X is doing F&O trading since last 3 years. In first 2 years, turnover was less, though there was a loss in each year, he preferred to report on presumptive basis i.e. profit @6% of turnover.

However, in previous FY 2020-21, he over-traded in F&O segment and turnover increased enormously, also incurred losses and 6% of it looks more. So he doesnt want to report u/s44AD.

So, as per IT act, he is shifting from Presumptive taxation reporting to normal reporting, tax audit would be applicable.

I wish to know:
1) What kind of precautions to be taken in this type of tax audit i.e. arising out of change of reporting??

2) So if the tax audit is done for FY 2020-21, then what would be the position for FY 2021-22? Does he require to do tax audit for FY 2021-22 also??

Kindly guide me.

Regards,
Suraj

Sir,
A person cash deposit in bank savings account mentioned below view as per 26as
1.cash deposit in bank rs:12 lacs
2.cash deposit in bank rs:11 lacs
Question:
Assess cash deposit amount transaction source without evidence treatment rs:23 lacs in it act

LLP is registered under Government of India-Ministry for commerce and industry-Department for Promotion of Industry and Internal Trade
Certificate states that Start up is working in 'Human Resources' Industry and 'Recruitment Jobs' sector as self-certified by them.

My question is whether income tax benefits u/s 80IAC and 56(2)(viib) will be available to the start up and whether to avail the benefits any form needs to be submitted to Assessing Officer ?

If we are running a restaurant bussiness and we are also delivering food via zomato & swiggy then zomato and swiggy cut their commission with axes and send us money on weekly basis after deducting tds and tcs. For their commission they gave us a service fee invoice.
So the question is
Why they cut tds and tcs ?
Bcz we are not giving them in any service and invoice

Dear Experts one my friend make the Sales Bill and issue the same to customer the same has not been given to file the GSTR1 & GSTR3B for the Month of May 2021 & June 2021. We filed NIL returns within due dates. Now my question is how to declare the same to the department? is there any interest & penalty arise? Please give me the solutions to overcome this problem? Thanks in advance.

A PERSON AGED 74 YEARS DESERVES OLD AGE PENSION ACCORDING TO ELIGIBLE CRITERIA...BUT THE PROBLEM IS THE PORTAL IS ASKING FOR AADHAR CARD I UPLOADED IT BUT AGAIN AND AGAIN IT ASKS AND WHEN I TRY TO UPLOAD IT A MESSAGE DISPLAYED ALREADY UPLOADED...
HOW CAN WE APPLY PLEASE HELP

Dear Sir,

For the month of March, there is a mismatch of Invoice Number, so I have amend the invoice in the month of June 2021, but there is a mismatch in invoice number again, as per the rule, now we can't amend the invoice number, what can be done in this scenario. Please let me know with detail description.

Information required very urgently.

Thanks in Advance.